Business & Strategy

Dangote Invited by Gabon to Boost Cement and Fertiliser Production Amidst Monopoly Claims

Written by Jerry Alomatu on July 25, 2024

News Views: 258

Amid allegations of attempting to monopolize Nigeria’s oil sector, Alhaji Aliko Dangote, President of Dangote Industries Limited, has received an invitation from President Brice Oligui Nguema of Gabon to invest in the country’s cement and fertiliser industries.

According to a statement from Dangote Group’s media office, President Nguema has encouraged Dangote to explore opportunities in Gabon’s cement and fertiliser sectors, with a specific focus on urea and phosphate production.

The statement detailed that during his visit, Dangote engaged in discussions with President Nguema and other senior government officials about the potential benefits of establishing cement and fertiliser plants in Gabon. These investments are seen as pivotal for Gabon’s infrastructure development and agricultural productivity.

“President Nguema expressed his eagerness for a partnership with Dangote Industries, highlighting Gabon’s readiness to foster a supportive environment for foreign investments,” the statement read.

Dangote reaffirmed his commitment to contributing to Africa’s economic development, noting that expanding into Gabon’s cement and fertiliser markets aligns with his company’s strategic vision of regional growth and sustainable development.

“We expressed excitement about the opportunity to invest in Gabon, saying the goal was to contribute to the country’s economic diversification and industrialisation efforts,” said Dangote.

The statement further indicated that the potential investment aims to enhance Gabon’s industrial capabilities, providing a steady supply of essential materials while aligning with President Nguema’s vision of a diversified and self-sustaining economy.

The visit underscores a significant step in strengthening economic ties between Nigeria and Gabon. As Dangote Industries continues to explore and finalize these investment opportunities, both nations anticipate mutual benefits that will drive economic progress and regional integration.

This development follows Dangote’s recent announcement of halting steel investments to avoid accusations of monopolistic behavior, and reactions to claims about the sulphur content in diesel produced by the Dangote refinery.